Cabinet to take final call on listing of PSU insurers

The finance ministry had circulated a draft cabinet note for inter-ministerial consultations on the listing

GN Bureau | November 8, 2016


#New India Assurance   #National Insurance Company   #Oriental Insurance Co   #United India Insurance Co  

 The cabinet is likely to take a final call on the listing of public sector general insurance companies this month. Last week, the finance ministry had circulated a draft cabinet note for inter-ministerial consultations on the listing of four general insurance public sector companies, according to news report.

These companies are New India Assurance Company, National Insurance Company, Oriental Insurance Co and United India Insurance Co.
 
In the union budget 2016-17, finance minister Arun Jaitley had announced the listing of such companies. He had said, “...(proposed to) undertake important banking sector reform and public listing of public sector general insurance and undertake significant changes in FDI policy."
 
Also, last year the government allowed foreign insurance players to raise their stake in their joint venture to 49%. Earlier, only up to 26% FDI was permitted. There are 52 insurance companies operating in India, of which 24 are in life business and 28 general insurance.
 

Comments

 

Other News

Demonetisation posed a new challenge to growth: IMF

The Indian economy has recorded strong growth in recent years, helped by a large terms of trade gain, positive policy actions including implementation of key structural reforms, a return to normal monsoon rainfall, and reduced external vulnerabilities, said the International Monetary  Fund (IMF).

The Nirbhaya of Naliya: a gang-rape in Gujarat involving BJP leaders

  The “Forum of Concerned Citizens for Naliya Incident” sent a fact-finding team to Kutch on February 20. The members of the team were Dineshbhai Sanghvi, Meenakshi Joshi, Balendra Vaghela, Dr Jharna Pathak and advocate Shabana Mansuri. Based on their report, the Forum ha

A blotch of saffron on Indian universities

University of Hyderabad, Jawaharlal Nehru University and now University of Delhi…the free space for discourse is steadily being squeezed out of universities in India as the Rashtriya Swayamsevak Sangh (RSS) backed Akhil Bharatiya Vidyarthi Parishad (ABVP) imposes its will and forcibly blocks out alt

The last fake encounter killing in Doon Valley

July 3, 2009 was a hot day. At around 5.30 in the evening, Ravinder Pal Singh was busy selling milk and milk products at his Mother Dairy booth in Indirapuram, Ghaziabad, when his phone rang. His younger brother Narinder Singh was on the line. When their conversation ended, Ravinder was ash-faced; his coun

Should a court-monitered probe be carried out in the charges levelled by Kalikho Pul in his suicide note?

Should a court-monitered probe be carried out in the charges levelled by Kalikho Pul in his suicide note?

I believe we are at crossroads, says deputy governor RBI

  Only a bank that fears losing its deposit base or incurring the wrath of its shareholders is likely to recognise losses in a timely manner. In many of our banks, such market discipline is simply not present at the moment, said RBI deputy governor Viral V Acharya.  

Video

Digital Transformation Summit

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter